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Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
 Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olders carriers. In its latest weekly report, shipbroker Alibra Shipping noted that 2015 saw an upswing in Capesize spot rates during the first seven months of the year, peaking in early August, rallying briefly in September and declining for the rest of the year. According to Alibra, “this would seem to correspond with scrapping activity – owners sold many capes for demolition during the first half of the year but stopped scrapping as rates rebounded – which ultimately killed the market again. Since 2016 began, some 64 Capesize bulk carriers have been sold for demolition, compared to 66 during the same period last year – almost identical”.
Of course, one could raise the question if we could see the same trend in freight rates during 2016 as well. Attempting to answer that question, Alibra noted that “demolition is only half of the story. In 2015, only 55 new Capesizes (10,999,600 dwt in total) were delivered between January 1 and July 8. During the same interval this year, however, 104 Capesizes have hit the water (20,100,627 dwt in total), some of which will be vessels that were originally scheduled for delivery in 2015. This is equivalent to net fleet growth of 2.6% since January 1”, said the shipbroker.
Alibra added that new software has shown how sensitively Capesize freight rates respond when vessels are removed from the trading fleet. According to MarineTraffic.com’s draft software, it is estimated that 37 Capesize bulk carriers (6.6m dwt in total) were laid up around the world, as of June 5. Alibra said that “this number is equivalent to 2.4% of the 1,521 Capesizes currently on the water. Most interestingly, MarineTraffic has found the number of laidup Capesizes identified by its software roughly tracks the trend shown by the Baltic Dry Index (BDI) week-by-week. The highest level of Capesize lay-ups was shown during the week commencing April 18 (week 16) this year. The BDI hit an eight-month high of 715 points just a few days later, on April 27. Rebound? An estimated 30m dwt in Capesize tonnage will have to be scrapped during 2016 and 2017 in order to offset the same volume of tonnage awaiting delivery and create a “floor” for freight rates. Research says this would result in the average age of a cape sold for demolition from the current 21 years to just 18 years. This is pretty drastic – in shortening the cash flow period, early scrapping cuts future earnings and vessel values. Is the cape market really so bad that shipowners would opt for such drastic measures?”, wondered Alibra Shipping.
Meanwhile, in the demolition market this past week, Allied Shipbroking noted that “despite a slight upward correction in price levels being offered activity has held fairly minimal compared to what we were seeing earlier in the year. The heavy monsoon rains have created a significant temporary disruption in demand, while the Ramadan has also played its part in that regard. Things should start to improve slightly over the next couple of weeks, while things are also expected to be helped from the improvements noted in the dry bulk freight market, which should in theory keep demo candidates lists fairly tight. We might see some negative effects being brought in from the strengthening of the US Dollar. This should hamper end buyers confidence slightly with regards to their appetite for speculative buying, though once activity in the Indian Sub-Continent resumes this should be fairly well countered and prices should be able to keep more buoyant that what has been seen over the past couple of weeks”.
In a separate note, shipbroker Intermodal said that “demolition prices remained stable for yet another week, while in the absence of strong competition, Indian breakers managed to snap a couple of high ldt bulkers as the Ramadan kept breakers in both Bangladesh and Pakistan on the sidelines, fact that weighed down heavily on overall subcontinent activity last week. The fact that prices have hardly moved during the last month despite the significantly softer activity, is without a doubt a positive sign and once both holidays and the monsoon season in the subcontinent come to an end there is a good chance that we will start seeing firmer bids. The fact that the supply of dry bulk candidates has also been rather moderate lately and is expected to remain as such in the following weeks, should also act as additional support for prices, while in the first half of the year dry bulk demo sales decreased by 4% in terms of number of vessels compared to H1 2015, but increased 5% in terms of dwt, which means that bigger sized bulkers have been sold for scrap in 2016 so far compared to the same period last year. Prices this week for wet tonnage were at around 165-270 $/ldt and dry units received about 145-250 $/ldt”, the shipbroker concluded.
Source: Hellenic Shipping News
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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
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